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Watch for Biogen Inc to Potentially Pullback After Gaining 1.17% Yesterday

By James Quinn

Biogen Inc (NASDAQ:BIIB) traded in a range yesterday that spanned from a low of $279.51 to a high of $284.30. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $281.34 on volume of 512,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Biogen Inc on June 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $262.53. Since that recommendation, shares of Biogen Inc have risen 7.0%. We continue to monitor BIIB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Biogen Inc share prices have been bracketed by a low of $223.02 and a high of $333.65 and are now at $284.08, 27% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 0.2%.

Keywords: rebounders biogen inc

Ticker(s): BIIB